M id A tlantic Real Estate Journal — Owners, Developers & Managers — November 2024 — 35
www.marej.com
O wners , D evelopers & M anagers Sale marks the first transaction with investment partners Ernst Equities & Webb Ventures MCB Real Estate purchases DC-Metro multifamily property for $5.15 Million
C APITOL HEIGHTS, MD — MCB Real Es- tate announced the $5.15 million purchase of Sun- Crest Apartments in Capi- tol Heights. Located just one mile south of the Washington, DC border at 5225 Marlboro Pike, the 44-unit multifam- ily property is comprising two buildings, each three stories. The purchase of SunCrest Apartments was made in col- laboration with an institutional investor’s Emerging Manager Program and marks the first transaction with investment partners Ernst Equities and Webb Ventures . “As institutional investors seek new sources of return, they are increasingly recogniz- ing the benefits of investing with small, emerging, and diverse managers. And like- wise with MCB, investing in SunCrest Apartments is not just about financial returns; it’s about recognizing and un- locking the potential in small and emerging entrepreneurs,” said Gina Baker Chambers , president of MCB Real Estate. “We’ve seen tremendous value in this partnership. Webb Ven- tures and Ernst Equities have the energy, focus, and creative drive needed to optimize the performance of this asset. By working together, we’re able to transform properties into high-performing assets, and we look forward to future op- Precis hires Ronalter, RA, LEED AP BD+C, as dir. of process architecture and sustainability AMBLER, PA | CARY, NC — Precis Engineering + Architecture , an award-win-
ship plans to renovate the remaining apartments. These circumstances afford MCB a terrific opportunity to maxi - mize SunCrest’s occupancy and align rents closer to the market while maintaining rents that allow SunCrest to be an attainable option for potential residents in the DC metro area. SunCrest has undergone extensive capital improve- ments, including a new roof and the installation of solar panels that supply lower cost electricity to the property. This minimizes the risk of
unexpected capital expenses, allowing new ownership to focus funds on operational and in-unit improvements that drive bottom-line growth. “SunCrest Apartments of- fers tremendous upside at a relatively modest investment,” adds Baker Chambers. “Re- gardless of the sector, we’re always looking for opportuni- ties that make sense and align with our strategy. Our team’s knowledge and market exper- tise give us the flexibility to unlock potential in properties like this that other firms can’t capitalize on.” MAREJ
SunCrest Apartments
portunities to collaborate and drive even greater success.” Built in 1972, the property
is currently 82% occupied. Of the 44 units, 24 have been modernized and the partner-
ARE INSURANCE COSTS
YOUR BOTTOM LINE?
Let us help you based on our over 30 years of expertise & EXTENSIVE list of carriers for NJ & PA Properties
RECENT SUCCESSES:
Comprehensive Coverage & Aggressive pricing on newer construction frame/podium buildings up to $40M of value
1.
Competitive programs for buildings 1990 & OLDER (Property & Liability, XS Liability)
2.
Have multiple BUILDERS RISK and Construction liability carriers to provide comprehensive coverage at aggressive pricing to meet lender requirements
3.
ning design firm with locations in Ambler, PA, and Cary, NC, has hired Veera Ronalter, RA, LEED AP BD+C ,
Easy review process on existing or new purchases on pricing & coverage. Let us help you through these changeling times.
as director of process architec- ture and sustainability. Ron- alter’s hire brings high-level experience and leadership to the firm’s process architecture group and strengthens Precis’ commitment to environmental sustainability. MAREJ Veera Ronalter
Contact: Ron Diskin- ron.diskin@king-insurance.com 201-213-6590 Jonathan Diskin- Jonathan.diskin@king-insurance.com 201-919-3839
Made with FlippingBook - Share PDF online